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Barchart
Rich Asplund

Cocoa Prices Surge as Ivory Coast Cocoa Exports Slow

Ice Ivory Coast ICCO NY Ghana Hershey London Mondelez

May ICE NY cocoa (CCK25) Tuesday closed up +500 (+5.68%), and May ICE London cocoa #7 (CAK25) closed up +375 (+6.16%).

Cocoa prices on Tuesday rallied sharply and posted 2-week highs.  Recent Ivory Coast cocoa exports have slowed, supporting prices.  Tuesday's government data showed that Ivory Coast farmers shipped 1.48 MMT of cocoa to ports this marketing year from October 1 to April 20, up +11.3% from last year but down from the much larger 35% rise seen in December.

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